Headquartered in Baltimore, Maryland, Constellation Energy is the country’s largest supplier of electricity to large commercial and industrial customers and the largest wholesaler of power. Constellation Energy is a Fortune 500 company, employing more than 10,000 people. The company’s 2008 revenue came in at an estimated $19.8 billion.

As the country’s number one supplier of fuel and energy services to heavy industries and utilities, Constellation Energy owns a diversified fleet of 83 generating units, generating approximately 9,000 megawatts of power. Constellation Energy delivers electricity and natural gas through its regulated Maryland utility, Baltimore Gas and Electric Company (BGE).

Constellation Energy also owns and operates a subsidiary called Constellation NewEnergy, which is a competitive supplier of electricity, natural gas, and energy-related services for industry and institutions. Constellation NewEnergy provides service to more than 19,000 companies and institutions in 31 states and three Canadian provinces.

Constellation Energy was awarded the “2004 Energy Company of the Year” in the Platts Global Energy Awards. Constellation Energy was also selected by its peers in the energy industry for Most Admired Energy Company of 2004.

Constellation Energy is led by Mayo A. Shattuck III, who acts as the company’s president and CEO. During the economic downturn of 2008, Constellation Energy faced some serious challenges. Still, the company performed well for the first quarter of 2009. According to Mayo Shattuck, “Our core businesses continue to deliver strong results in a challenging economy. As expected, the de-risking activities and strategic realignment that we began in August 2008 drove one-time GAAP losses in the quarter.

“Our strategic realignment is on track,” Mayo Shattuck continued. “The divestitures of the majority of our international commodities operation in the first quarter and of our Houston-based gas trading operation in April 2009 were completed in a difficult financial and commodity market environment. We are ahead of schedule in our de-risking plan and now have approximately $4 billion of net available liquidity.”

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More information on Constellation Energy:

• Profile of Constellation Energy on Portfolio.com
• Profile of Mayo Shattuck, CEO and President of Constellation Energy
• Constellation Energy elects Mayo Shattuck as President and CEO

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